Starting next month, ING Bank's retail branch network will also provide services to small companies and during the year will add private pension products to its offer aimed at individuals.
"We have over 275,000 individual customers at present," says Albert Roggemans, deputy general manager with ING Bank, who is in charge of coordinating the retail unit.
ING Bank, a player traditionally centred on corporate clients, launched retail operations in 2004, when it brought onto the market a concept that was new at the time; offices that operated in a franchise system, where customers carry out operations on their own. The offices, called Self'Bank, allow for cash withdrawal and depositing, as well as for intra and inter-banking transfers to be operated, with the services being provided on the basis of cards. At present, ING operates 112 Self'Banks and 24 wholesale branches for corporate clients, which also include retail services. "We will reach 200 Self'Bank and wholesale branches by the yearend," forecasts Roggemans.
He says that during the first phase the offer for small firms will include a current account similar to the one offered to individuals. The bank includes in the category of small firms those firms generating an annual turnover of below 1.5 million euros.
For individual clients, the bank provides debit cards that have a current account attached, which currently brings a 6.4% interest per annum, irrespective of the amount of money in the account. Roggemans says the interest on the current accounts of legal entities will be somewhat lower, because cash management is more difficult in this case. Financing products are also due to be added to the offer for small firms by yearend. As regards individuals, Roggemans considers the current offer of banking products and services is quite comprehensive.
In terms of savings products, ING offe
